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Posted May 30th, 2014 by Charles Purdy

US Dollar has a good week

The US dollar fared well at the start of this week, as the core durable goods orders figure from the country beat expectations. This gave the currency a boost, notably reaching a ten-day high against sterling. This positivity rolled on into Wednesday, as the dollar made further ground despite the lack of fresh data to drive the markets. Yesterday saw this trend reverse somewhat, however, as the country’s economy saw a contraction for the first time in three years. As a result, hopes of a move away from the record-low borrowing costs were dampened, causing the dollar to weaken. Positive unemployment claims data, which was ahead of expectations, helped to reduce some of these losses, but negativity returned as the pending home sales figure missed its expectations.

Today is laid out as a calm end to the week, with no major releases due from the country.  However, a few smaller pieces of data, including the Chicago Purchasing Managers’ Index and revised University of Michigan Consumer Sentiment could combine to affect the markets, even as events slow down.

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Posted May 29th, 2014 by Charles Purdy

Will todays data help to continue the US dollar’s good run?

On a quiet day for worldwide events, the US dollar managed to make steady gains against most of its major partners. This came despite a distinct lack of data, particularly from stateside, with no major releases to give investors any guidance. As such, it was the aftereffects of positive data on Tuesday, coupled with the longer term relative prospects for the US economy, which bolstered the dollar’s strength.

Today is a stark contrast in terms of activity, with a number of key releases to interest investors. Firstly, we will hear from two crucial areas, with preliminary growth figures and unemployment claims data due.

Posted May 28th, 2014 by Charles Purdy

US dollar stronger on positive data

The US dollar had a positive day yesterday, thanks to encouraging data from country to buoy the currency. The core Durable Goods Orders figure came out better than expected, showing an unanticipated rise for April. This caused the US currency to make ground against most of its major partners, hitting the highest level in 10 days against sterling.

Today is a wholly quiet one for the dollar with regards to data, with nothing major due from the country to affect the markets. As such, investors will be looking at developments in other countries, as well as ahead to Thursday’s US growth figures and unemployment data, with speculation over these likely to factor into investors’ considerations.

Posted May 27th, 2014 by Charles Purdy

US dollar boosted by rise in new home sales

The US dollar finished off last week with some positivity, reaching three-week and one-week highs against the euro and the yen respectively. Gains were helped by the country’s economic data release, which showed better-than-expected figures in the new home sales department.

Following on from yesterday’s bank holiday, this week’s data starts strongly today, with both the core durable goods orders and the consumer confidence due from the US to get things started. Tomorrow is a quieter affair, as investors anticipate Thursday’s growth figure from the preliminary GDP, alongside ever-important labour data, in the form of unemployment claims. These data sets will be backed up by pending home sales figures, before Friday rounds off the week in subdued fashion.

Posted May 27th, 2014 by Charles Purdy

US dollar boosted by rise in new home sales

The US dollar finished off last week with some positivity, reaching three-week and one-week highs against the euro and the yen respectively. Gains were helped by the country’s economic data release, which showed better-than-expected figures in the new home sales department.

Following on from yesterday’s bank holiday, this week’s data starts strongly today, with both the core durable goods orders and the consumer confidence due from the US to get things started. Tomorrow is a quieter affair, as investors anticipate Thursday’s growth figure from the preliminary GDP, alongside ever-important labour data, in the form of unemployment claims. These data sets will be backed up by pending home sales figures, before Friday rounds off the week in subdued fashion.

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